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back early because of the fiscal cliff. dagen: steve, thanks. >> take care, dagen. dennis: our next guest is predicting a santa rally with markets in the green the last week of the year and into early january. the chief investment strategist of raymond james is joining us now. there's a track record on your side about the last week of december. >> that's right, usually the last week and the week before is when the last of the retail selling takes place and there tends to be upside vacuum between christmas and first couple days of the year. 70% probability of being an up shortened week. dennis: you don't see that percentage going down because of the cliff and all that? >> i think your previous guest was right. i lived inside the d.c. beltway. i think they will come together. they won't get a grand solution, but i think they could get the first step of maybe 500,000 as your other guest suggested in terms of the definition of what wealthy is. i think he's also right on boehner. boehner has been under tremendous personal pressure to cut a deal, and when the new congress sits on january
't more than a little ramp. those voices have been buried behind the simplicity of a fiscal cliff. the press loves a deadline. >> the press loves a deadline and loves colorful language like fiscal cliff. thanks for joining us. >>> at the top of the hour, state of the union has republican reaction to the president's interview on "meet the press." did we really need to go haywire over david petraeus? mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. i need you. i feel so alone. but you're not alone. i knew you'd come. like i could stay away. you know i can't do this without you. you'll never have to. you're always there for me. shh! i'll get you a rental car. i could also use an umbrella. fall in love w
americans, of course, going to be waiting with baited breath to see what happens with the fiscal cliff. thank you very much for joining us from mastercard advisers. >> terrific. thank you. >>> the u.s. economy is hanging in the balance with just five days left for congress to come up with a deal to avert the fiscal cliff. let's get to our senior economic reporter, steve leesman, with his predictions for the economy in 2013. >> reporter: >>> trying to figure out what's going to happen in 2013 depends on one very important development -- whether the u.s. goes over the fiscal cliff in a few days' time, and for how long. if it's avoided, there's considerable upside for the economy. we could see at least one and maybe two quarters of growth above 3%. the kind of growth that would put people back to work and lower the unemployment rate. why? because business has been holding back investment amid the uncertainty. unleashing business spending would add to the growth from the nascent rebound in housing and from the consumer who has hung in there despite tough times. in fact, we could see unempl
: stephen moore, economics writer for "the wall street journal." on her way to the fiscal cliff. thank you very much. heather: russian president vladimir putin accused of playing politics with the lives of orphans. signing a bill banning americans from adopting russian children. bad news has left dozens of american families heartbroken. amy kellogg is live in london with details. reporter: heather, one russian activist says that every member of the russian parliament voted for this measure should be obliged to adopt a russian child of his or her own. there are 700,000 russian children who need a home. only 18,000 russian families who signed up to adopt. this new law was named after a russian baby that died in the custody of his american adoptive parents. he was neglected. but it is really believe that the reason for this law was another law that was just passed in washington, so it is a response to the american law punishes human rights violators in russia. it was sparked by the death of a russian lawyer who died died in jail investigating a fraud case at the request of americans in russia
to their senses soon. ashley: nobody knows why, but i'm tired of saying "fiscal cliff," i know that. thank you so much for joining us. >> thank you. >> and cindy who ran off. thank you very much. that's the floor show. washington running out of time to avert the fiscal cliff and after plan b, well, that got nowhere, the house g.o.p. insists it's the senate's turn to suggest a plan, but the senate, well, yet to make a move. peter barnes joining us from dc with the littest on, what, doesn't seem to be going anywhere? we have the speaker, peter, stuck in a blizzard in ohio. >> yeah, that's right, ash, and we've got the senate coming back in tomorrow, and the president coming back into tossen so everybody -- into town so everybody is looking to harry reid, the senate democratic leader and the president to make a move here in the standoff, white house and senate democratic staff were discussing steps to avert the cliff monday. we didn't get an update on the status of the conversations from the white house today. a spokesperson for senator reid saying, quote, nothing to report, no conversations with re
hanger, i'm tired of saying "fiscal cliff. i'll use "cliff hanger." thank you so much for being here. >> you're welcome. ashley: i said it would be fun; right? >> yeah. ashley: very optimistic. the closing bell rings in 37 minutes. by the way, it is the endless search for yield. money flowing into corporate bonds like there is no tomorrow, especially junk bonds. the question is is it too late for investors to get in on the action. lance robert, the ceo of street talk advisers, find out why he thinks stocks are better with consistent returns and pay healthy diff denldz. makes sense. his top picks coming up next in a fox business exclusive. ♪ ashley: face call cliff, fiscal cliff, fiscal cliff, that's three more times, holding stocks hostage, down fifth day in a row. energy stocks notably weak again today. six down days in a row so check out the energy select spider exchange traded fund. it's xle, and it's basically a proxy for the energy complex, oil producers, service providers, pipeline operators, and xle, as you see, up 1.25%. in terms of the individual names, exxon mobile down 1
and watching. thank you. >> thank you. >>> deadline for that fiscal cliff, well, we have said it, 32 hours. we will bring you the latest on its major sticking points. ♪ [ woman ] ♪ what i want this season ♪ if you'd like to try and guess ♪ ♪ it is something very special ♪ i would readily confess [ dogs barking ] ♪ 'cause all i want this season ♪ ♪ is something from your heart ♪ la da da, la da da [ male announcer ] thinking of others this holiday season, travelers.
in the clubs. one person knew what the fiscal cliff was. >> thank you. happy new year. >> happy new year, don. >> this week's moment next. why should saturday night have all the fun? get two times the points on dining in restaurants, with chase sapphire preferred. good afternoon. chase sapphire. (push button tone) this is stacy from springfield. oh whoa. hello? yes. i didn't realize i'd be talking to an actual person. you don't need to press "0," i'm here. reach a person, not a prompt whenever you call chase sapphire. and this is the nokia lumia 920 from at&t. it's got live tiles so all my stuff's always right there in real-time. it's like the ultimate personal assistant. but i'm me, and me needs handlers. so i hired todd to handle it for me. todd, gimme that hollywood news! what's happening on twitter? you're trending! yes! you can't have a todd, but you can have your own personal assistant. i guess you could call it todd. [ male announcer ] the new nokia lumia 920 with live tiles that deliver what you want in real time. only from at&t. rethink possible. that deliver what you want in real ti
. i bring it up in the clubs. one person knew what the fiscal cliff was. >> thank you. happy new year. >> happy new year, don. >> this week's moment next.
if this fiscal cliff lingers. >> steve, thanks so much tonight. we have learned more tonight about why secretary of state hillary clinton is in a new york city hospital. her doctors confirm she is being treated for a blood clot between her brain and skull. they say she did not suffer a stroke or neurological damage but clinton remains hospitalized tonight. nbc chief foreign affairs correspondent andrea mitchell joins me now from washington with the latest on that. andrea, good evening. >> good evening, kate. hillary clinton was set to return to work, until doctors discovered the blood clot that formed in the vein situated between the brain and skull behind the right ear. they say she did not have a stroke, did not suffer neurological damage but will have to be hospitalized for the time being. she's the administration's most high-profile frequent flier. 112 countries, nearly 1 million miles. more than 400 days of travel. named in a gallup poll today as the world's most admired woman. widely viewed as the democratic front runner in 2016, if she chooses to run. now grounded at a new york hospital.
. >> mike, thank you. on top of those fiscal cliff concerns, the treasury secretary, timothy geithner, warns we're set to hit the debt ceiling new year's eve, the max amount we're allowed to spend. the current limit is $16.4 trillion. he says the obama administration will work to make sure the u.s. does not default on loans right away but the debate will be another drag on the economy. with us, the chief business correspondent for u.s. news and world report, rick newman, and author of rebounders, how winners pivot from setback to success. talk about the debt ceiling for us, first of all, welcome. talk about the debt ceiling and how it affects us. we here horror scenarios about the red -- credit rating. >> one good thing you can say about reaching the debt limit is it's not a surprise. everybody has known this is coming up. the government will continue to function for a couple more months. emergency measures will be used to keep the money flowing, so to speak. this is unrelated to the fiscal cliff, so it's an additional problem that everybody has to deal with. of course the worst thing is we
us. >> thank you. >> congress had well over a year to tackle this fiscal cliff. instead, we've come down now to the final eight hours before our nation takes a severe hit potentially to the economy. tyeah, its the galaxy note ii.re great. you can do two things at the same time. you can watch videos and text. or you could watch the earnings report and take notes, like we're supposed to. so... can i get it? yeah. okay either of you put together the earnings report yet? yes, me totally. what? why don't you tackle the next quarter. you eat yet? polynesian? pu pu platter? yup! keep up the good work. i will keep up the good work. do more with the new samsung galaxy note ii. [ dog barking ] ♪ [ female announcer ] life is full of little tests, but your basic paper towel can handle them. especially if that towel is bounty basic. the towel that's durable, and scrubbable. in this lab demo, bounty basic is stronger than the leading bargain brand. everyday life? bring it with bounty basic. the strong but affordable picker-upper... now costs even less. >>> we're following the breaking news. the
to the fiscal cliff. >> major garrett, thank you. senator is live on capitol hill. >> thanks for having me. >> if there's a deal today, why would you vote to extend tax cuts if there are no new spending cuts? >> that's the exact thing. the real problem is the spending. if you want to raise taxes -- and the president promised in the campaign he wanted to do that -- it's to pay down on the deficit. there's no evidence of any of that. that's a major sticking point. the democrats are divided on tax rates, on the death tax, on taxes on small business and the republicans are holding firm that you actually have to deal with the number one problem in our nation which is the spending our debt. >> senator, the senate is reconvening this morning. how close are we actually to some kind of a deal here? >> i'm hoping that we get an arrangement and an agreement because the american people deserve certainty. what we ought to do is put a bill on the senate floor and let people offer amendments and vote on them. we shouldn't be here waiting for people to cut deals on back rooms. the ame
, there is no more time and the american people are depending on us for a solution to avoid this fiscal cliff. thank you. i yield back. the speaker pro tempore: the gentlewoman yields back. for what purpose does the gentleman from la rise? -- from louisiana rise? without objection. >> here we are on new year's eve, working to avoid this latest fiscal cliff. of course, if you wonder why we are here, just look at the fact that we shouldn't have to be here. back on august 1, this house with a bipartisan vote, passed the bill that would have avoided this fiscal cliff. it would have protected every american family from seeing a tax increase. mr. scalise: the bill passed on august 1 and it's been sitting over in the senate every day since then. here we are new year's eve and the senate's finally rolling up their sleeves and working to avoid this crisis. here we are in another crisis and unfortunately as we look towards this new year tomorrow, this is not the last time that we may be here. we passed a budget here in the house months ago. it's been more than three years since the senate passed a budget. yet
. that's the fiscal cliff. we reach the brink in two days. let's go live now to dana bash on capitol hill. because of news of a setback. dana, what do we know? >> that's right. we got this word from democratic sources about a half an hour ago. maybe a little bit more. that they consider a major setback to be going on right now. a poison pill, something that the republicans offered last night and democrats rejected today. it's called technically chain cpi, the buzz word for it. what it means for real people and real terms, would be that social security recipients would see smaller checks on a monthly basis and that's why democrats are saying that this is a nonstarter. the president did propose this to the house speakers as part of a larger deal. he even talked about it again this morning on nbc, the president. but democrats are saying that they simply do not see this in this miner, smaller mini deal. they don't want to deal with the entitlement issue at all until a later date when they can deal with it in a broad sense. here's an example of what we heard a half hour ago from the republican
. >> you bet. >> that's all the time we have left for the special fiscal cliff edition of hannity. thanks for being with us. let not your heart be troubled because the news continues and greta is standing by to go live on the record. greta, take it away.illy. the factor. captioned by closed captioning services, inc. >> the o'reilly factor is on. tonight. >> this is something within our capacity to solve. call me a hopeless optimist but i still think we can get it done. >> as the nation comes closer to the edge the chances of a fiscal cliff deal begin to doom. what will it mean for you? >> the administration essentially enacting legislation on its own through you regulation. a lot of them i think are illegal and unconstitutional. >> barack obama ramping up plans for a second term despite harsh criticism from opponents. what can we expect in the next four years? >> from the moment we met ben outside of st. peter's, russia, we fell in love. >> and tensions escalate between the u.s. and russia after putin tells americans he won't let them adopt russian children. could this be the start of a n
? >> julie martin, braving the elements, we appreciate it. thank you. still to come, after the fiscal cliff, the hangover. what will it feel like the day after? up next though, arming teachers to protect students, we are going to talk to arizona's attorney general who has a plan under way to do just that. you are watching msnbc, the place for politics. [ sniffs ] i have a cold. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first
were so close to the fiscal cliff deadline. >> glor: nancy cordes, thank you. major garrett has been following developments at the white house. major, what is the president's next move? >> reporter: it is not a breakthrough but it is a glimmer of hope. officials tell cbs news the president will meet with harry reid, mitch, house speaker john boehner, democratic leader nancy pelosi tomorrow afternoon at the white house. to try to find out if there is a way to avert the fiscal cliff. today, after the president returned from his vacation in hawaii, he did meet with his senior advisors. they did conduct some back- channel negotiations as they have been during the holidays on a bill to possibly avert the fiscal cliff. those talks i'm told did not make much progress. the face-to-face conversations may fact create the possibility of a breakthrough. but right now the president has no new proposals to give his congressional leaders. he will stick with what he told the nation on friday-- raise income taxes for households earning more than $250,000, extend unemployment benefits for those americ
. thank you. >> that's right. >> a deal on the fiscal cliff may be at hand, but there's still a lot to do, and not a lot of time to do it. delaware democratic senator chris kuhns. thank you for taking the time. i want to talk about something first that your colleague tom hashi harken said on the senate floor. let's come back and talk about it. >> it looks like all of the taxes will be made permanent, but all of the other things that the middle class and america really depends on. one year or two years at the most, but the tax system is made permanent. well, i just think that's grossly unfair. grossly unfair. as i have said before, no deal is better than a bad deal, and this looks like a very bad deal the way this is shaping up. >> so, senator kuhns, is $400,000 on individuals a bad deal as tom harken described, it or is some deal better than no deal at this point? >> well, first, let's just talk about our broader values and the context we're operating in. given the real financial strains on our federal budget, given divided government where the house is controlled by republicans, the sena
together every 10 minutes. back to you guys. >> thank you. >>> we're less than a week away from the "fiscal cliff" and it turns out not every lawmaker left for the holiday. senate majority leader harry reid had worked on christmas at the capital on a scaled-down plan to avoid tax hikes for all but the wealthiest americans. his plan would also include short term spending cuts instead of long term deals that had been sought. >>> president obama will cut his hawaiian vacation short today and return to washington to take part in "fiscal cliff" negotiations. >>> holiday sales grew at a weak pace this year. the weakest in four years. mastercard advisors spending pulse reports that sales in the two months before christmas increased .7% over last year. a lot of analysts expected sales to be up 3 or 4%. but wait, there is more. when i worked in retail when i was in college, christmas was busy enough. but the day after christmas? it was unbelievable! cbs 5 reporter cate caugiran is in san leandro where after- christmas shopping has already started. >> reporter: yes, brian. it started at 5:00 this mor
's a word that might apply to this entire fiscal cliff situation. >> major garrett, thank you very much. >>> republican senator bob corker of tennessee has offered proposals in recent weeks to break the stalemate in congress. senator, good morning, good to see you. >> good morning, jeff good to be with you. >> are we going over the cliff? >> well it depends on what that means. i think 98% of the people in our country can be assured that at some point over the next short period of time, their income taxes are going to be the same but this congress as you know has been more prepared than any to deal with the big issues our nation faces and what you're seeing is a lack of courage to deal with the spending issues. unfortunately, you know today the average american doesn't realize that there's 40% of government services that they're not paying for. only one-third of medicare is paid for by those people who actually use it and because there's been this charade going on, where the left and right basically have conspired together to shield the american people from the tr
with four days to go before the fiscal cliff strikes. >> all right. always a pleasure. thank you, sir. >> good to be with you. >>> major break today in negotiations between dock workers and port operators puts off at least for now a port strike that would have shut down nearly all shipping traffic along the east and gulf coast. a federal mediator says that the union and group representing the shipping lines agreed to a 30-day contract extension narrowly averting the sunday strike deadline. business groups warn that the economic impact of such a work stoppage is disaster. joining me is nbc's ron mott. for folks not following the story, how did we get here? >> reporter: folks haven't because they're paying attention to the fiscal cliff. this was lurking in the shadows and today moved the ball down the field for 30 days and may be talking about a strike again in 30 days but the big issue here was this so-called container royalty that the shipping companies pay to the union members who actually the guys and men and women offloading the big ships and the containers with things like tvs and
financial. thanks a lot >> susie: the fiscal cliff isn't the only drama playing out for the u.s. economy: there's also the "container cliff". 14 ports along the u.s. east and gulf coasts are at risk of closing if longshoremen and the international maritime alliance cannot reach a deal by saturday. federal mediators have been called in to help with last minute negotiations. at the heart of the dispute: container royalties. those fees charged to shippers were implemented in the 1960s to help dock workers displaced by technology. the maritime alliance wants the royalties capped. earlier this month a port strike in southern california, cost an estimated $1 billion a day. netflix is blaming problems at its web service provider, amazon for a server outage that took down its streaming video service on christmas eve and into christmas day. netflix says it worked through the night with engineers at amazon to get the service back up and running. netflix shares rebounded today, rising almost 2%, while amazon shares fell nearly 4%. >> susie: amazon was just one of many stocks in the red today. as we
at presbyterian hospital this morning. thank you. >>> meanwhile the final day of fiscal cliff negotiations. hopes of reaching a wide-ranging deal to avoid automatic tax increases and spending cuts is all but gone. without a plan in place by midnight it will cost americans an additional $536 billion. spending would be reduced by $110 billion, and the cuts would be felt in all areas of the government. economists have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this morning the senate reconvenes with the aim of reaching a smaller deal one that might spare millions of americans from paying higher taxes. danielle nottingham is in washington with the latest. dab yell, good morning to you. >> good morning, terrell, vice president joe biden is now in on negotiations. senate minority leader mitch mcconnell reached out to him sunday night after talks with democrats stalled. but with just hours go until this deadline there are still obstacles standing in the way of even a watered down agreement. lawmakers left the capitol s
. glad to be here. >> senator, there's a lot of talk about the fiscal cliff shifting to the senate. that's where a solution should be worked on. what have you been heard from your leadership on that? >> well, i think that everyone is going back to the drawing boards. i had hoped that we would be able to take speaker boehner's plan b and work on that with the democrats, and then maybe come to terms before we broke for christmas. to make sure the tax increases that would occur at the end of the year won't -- and something that hasn't talked too much is it would make permanent the child tax credit, the marriage penalty relief, the amt relief, things that middle-class families need to continue. all of that will go you have if we don't do something by the end of the year. >> are you hearing from leadership it will be taken up, something does need to cobble together? >> i know our leader are trying. >>> what about vice president biden, you worked with him for 15 years. he and biden worked very well together in the fiscal negotiations last time. should you bring in biden into the conversation h
, senator john thune spoke with reporters on where things stand on the fiscal cliff. >> where do things stand as far as a republican deal? >> republicans advanced a proposal last night and you heard senator mcconnell talk about it on the floor. we're still waiting for a counteroffer. there was an indication we would receive the by 10:00 this morning, but discussions still continue. senator mcconnell and vice president joe biden are continuing to discuss this and we think there still could be a path forward. democrats have come out and made a huge deal out of changing this and republicans are very concerned that it should not be used as an offset to reduce or replace some of the spending cuts that would occur and democrats put forward an alternative. this is a process. there's a lot of give-and-take going on. republicans do not want to see new revenue, democratic tax increases, being used for new spending. that is where many members are drawing the line. >> you all want to use this technical level, but it would really affect social security recipients in the sequester. democrats want to
%. dennis: thank you. growing pessimism with less than a week until the fiscal cliff deadline. 50% of americans say we would get a deal, 48% saying it is a no go according to a new gallup poll and that is a big change from a poll conducted last week. we are joined by washington bureau chief jerry side. john bbehner and republicans were unable to do it. now the focus and pressure shifts to the senate and the democrats. >> in the senate is democrats and republicans because last year when we were in this fix couldn't get out of the debt ceiling crisis it was harry reid, the democrat leader in the senate and mcconnell, the republican leader who emerged as adults in the room and worked up something that got through congress. we are on the verge of something like that or at least an attempt to replicate that. how much of a role will whitehouse play, might just be as in 2011 the two senate leaders decide they can take care of this themselves. we will see when president obama gets back tomorrow. dennis: small, thinking a smaller deal rather than something sweeping. >> there was a sense th
they would listen to me. thank you, congressman. straight ahead, is it just the fiscal cliff that you are about to be pushed off? try the milk cliff. now, what is that? stand but you are about to find out and well, you won't like it. and, yes, your government is doing it to you. >>> also, what a year. government sex scandals. brutal political fights and superstorms like we he have never seen before. lots of explosive headlines in 2012. what is the biggest story of the year. tell us on gretawire and post your pick and see if your pick made our list. that's coming up. >>> plus, get ready. another storm about to pummel big chunks of the nation. does that possibly mean you? are you in the path? the latest on the storm are's the latest on the storm are's path i i i i i i i [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male
: the fiscal cliff is the big story. that is not the only thing that could mean major changes for you and your wallet next year. changes for healthcare. that is coming up next. shibani: we are also waiting for the president's remarks live from the white house. we will bring them to you live. ♪ droid dna augmentation initiated. vision expanding to a 5-inch 1080p hd display and camera. touch acquiring nfc. hearing evolng with beats audio. wireless charging activated. introducing droid dna by htc. it's not an upgrade to your phone. it's an upgrade to yourself. the 952013 kicks off, affordable care act will be front and center. we know there will be an eventful year. what are some of the biggest things we need to keep an eye on >> the biggest thing is the affordable care act. the obama administration sees this as the key here for getting it implemented. there is a problem with that, though. most of the governors do not want to participate. ashley: if they do not participate, does that mean the federal government comes in and takes over? >> that is exactly what it means. the federal government co
with the president and key congressional leaders. >> thank you. if the fiscal cliff can be avoided there is another gigantic hurdle awaiting the lawmakers. >> they will hit the credit limit of $16.4 trillion on december 31. the nation thereafter can't pay the bills unless congress raises the limit. >> with a new congress in january we need to revisit an finally give ourselves the determination to solve not only our short-term debt but the long-term debt. >> they raised the debt limit 11 times in a decade. most recently in august 2011 after a bruising political fight. democrats accuse republicans of using the debt limit as political "leverage" to press for spending cuts. a point they tried to make with a jarring comparison. >> this is somewhat to taking your child hos tam and saying i'll shoot my child if you don't do what i want done. you don't want to shoot your child. no leader wants to default on the debt. >> they said there is breathing room and the treasury department will take extraordinary measures authorized by law. that will create head room under the debt limit. under normal circumstances
actually skied this morning and rushed back, but i know one casualty of the fiscal cliff and that's me. >> there you go. >> thank you, thank you. so the senate won't vote tonight. house speaker john boehner says his side of the capitol can't solve this crisis. starting to look pretty hopeless in washington. maybe a member of the house can give us a reason to be optimistic. chris van hollen is a maryland democrat. there he is, congressman, do you believe we're going to go over this cliff, yes or no? >> i still think we have a 50/50 chance of averting the cliff. i thought the odds were a little higher this morning, but, look, obviously the clock is winding down. what we do know is negotiations are ongoing. there was a big road block earlier today with the so-called chain cpi issue, but that seems to have been put aside. so we'll have to see, but, again, the fundamental issue has been the same throughout this process which is that our republican colleagues are trying to do everything we can to prevent higher income individuals to pay a little bit more to reduce our deficit, and that's wha
of fiscal-cliff type episodes. another debt ceiling debate coming up early part of next year, as well. >> yes, we do. >> i hope we can get leadership. >> okay, thanks, dylan glenn, thanks so much. >>> so what could the fiscal cliff mean for wall street and your retirement fund? i'm going to ask independent new york stock exchange trader in about one hour from now. >>> all right. let's switch gears here. because after newtown, gun buybacks are making headlines across the country. >>> and we're going to tell you how donors funded the biggest buyback ever in one connecticut town. i know. i'm will, and this is the nokia lumia 920 from at&t. it's got live tiles so all my stuff's always right there in real-time. it's like the ultimate personal assistant. but i'm me, and me needs handlers. so i hired todd to handle it for me. todd, gimme that hollywood news! what's happening on twitter? you're trending! yes! you can't have a todd, but you can have your own personal assistant. i guess you could call it todd. [ male announcer ] the new nokia lumia 920 with live tiles that deliver what you want
will check in with things stand with the fiscal cliff. you can join us honor twitter account at twitter.com/cspanwj. it is down to the wire. robert on the democrats line. caller: i blame the republicans . i do not think they are being honest. they think the american people are stupid. the american people are not stupid. the american people are not going to forget this. they know who is holding up the process. they may blame the president as well as congress. the american people have spoken. they want the crisis solved. if you want to cut out all social programs, they are getting the benefit of the situation. this is what they wanted. . the american people do not want that. host: are you listening on c- span radio? caller: yes. host: good morning, jim. caller: i'm calling from georgetown, texas. senator schumer proposed a $1 million cut off. reid and durbin did not go along with that. no entitlement cuts and we have $16 chilean debt and everybody -- $16 trillion debt and everybody keeps spending. don't we have to pay this debt down? host: the debt is $16.3 tr illion. another looming dead
in chicago for us. thank you. >>> and it is the dreaded fiscal cliff that has the president heading home early tonight from his hawaiian christmas vacation. as some lawmakers are also heading back to washington. but with just six days to go, homes for a last-minute deal may be fading. nbc's kristin welker is with us tonight from honolulu. kristen. >> reporter: natalie, good evening. with president obama flying home this evening, the political rhetoric has already started, with republicans urging action in the senate, and with democrats calling on republicans to put middle class families first. the president and first lady spent part of their christmas visiting troops in honolulu. >> we want to say thank you. we love you. >> reporter: but now he heads back to a snowy washington, where the last hope for a deal to avert the fiscal cliff is the senate, which returns tomorrow. majority leader harry reid is devising a partial solution that could ease economic fears. >> if we go over in a chaotic fashion, where members of congress are deeply grid locked with no sign of coming together, then we'
monitor tomorrow herzfeld. coming up on monday on "n.b.r." we'll be monitoring those fiscal cliff negotiations, and we'll have news and analysis. we'll also a look back at the year in stocks, and s&p's sam stovall joins us to pre-view what's next for the markets in the year ahead. it could be one of the biggest trends in business next year: companies setting aside time for their employees to play. ruben ramirez explains. >> reporter: it may be hard to remember those hot summer days on the playground. the freedom to let your mind wander. how times have changed. as companies slashed jobs during the great recession worker productivity surged, today, many people are doing the job multiple people once did. >> i think our culture has gone in some direction where we feel like if we took a break we'd be considered irrelevant in the workplace and they don't need me. >> reporter: cary umhau's firm spacious is trying to re- introduce the idea of play to the workplace. tech companies have embraced play for years. at google employees get one day a week to work on their own projects. gmail and
. bob pr profusek. >> susie: the price of gold fell slightly today, as the fiscal cliff drama in washington continues to weigh on markets and confidence. gold slipped almost $8 to $1,655. for the year, gold is up about 5%, half the gain in the s&p 500. but as erika miller reports, some gold bugs believe next year will be far better for the precious metal. >> reporter: if you got gold jewelry as a holiday gift, it may be more than something beautiful to wear. it may also prove to be a shining investment. some gold traders think the yellow metal could hit $2,000 an ounce next year. the reason? >> monetary easing. all these governments have debt and there's only one way to pay it back and it's to devalue their own currency. and it's a race to the bottom. >> reporter: there are other factors that could also help support gold prices. central banks worldwide have been boosting their gold holdings to diversify their portfolios, and protect against inflation. this year, central banks bought roughly 500 metric tons of gold, up 8% from last year. in addition, many small investors are bu
on "meet the press" today when he said that republicans are to blame for this fiscal cliff stalemate. chris? >> kristin welker, thanks to you and thanks to nbc's kelly o'donnell on the hill as well. more ahead this hour as we continue to cover the ongoing negotiations on the hill. why a small deal now would set up a big fight later. more on secretary of state hillary clinton who has been hospitalize tonight with a blood clot. msnbc's live coverage continues after this. >>> time is running out for congress to reach a deal to avert the fiscal cliff crisis. at this point, the approaching deadline can be measured in hours, and expectations are being scaled down accordingly. >> i suggested to them, if they can't do a comprehensive package of smart deficit reduction, let's, at minimum, make sure people's taxes don't go up. >> the president appearing on "meet the press" this morning, pushing a narrow last-minute deal that would extend the bush tax cuts for the middle class but leave a hoet of other issues unresolved. if congress does reach a small deal on taxes before the fiscal cliff deadlines up
the fiscal cliff at midnight. host: edward-isaac dovere, thank you for joining us on the phone. >> in the meantime, off the floor, the associated press reporting a person familiar with the fiscal cliff talks saying they are making progress on averting across the board tax spikes in keeping and deep spending cuts. democrats are also saying they have offered to extend tax cuts for household making up to $250,000 per year and individuals making up to $400,000 -- up to $450,000 per year. that is a reporter from the associated press. here is as much as we can show you from the fix the debt campaign. host: the presidents of the committee for responsible federal budget and running the fix the debt campaign and, welcome back. there is this headline from "the new york times" and dick durbin says it all -- it looks awful. guest: he's completely right. it looks awful. we're watching this unfold. this has been in place for over one year. we have the fact that if we go over this fiscal cliff, the press to deal economy, just barely recovering, is very strong. the risk to people is as though
>>> this weekend is about the battle of the countdowns, the countdown to the fiscal cliff and the countdown to kickoff at fed ex field. thank you for joining us for the news at 10. i'm maureen umeh. attention-filled weekend as lawmakers try to beat the fiscal cliff clock and the redskins host the cowboys in one of the most crucial games of the season. we'll get to those stories in a moment. first, it was not quite the winter wonderland many of us hoped for. for a few hours, many of us saw the snow make an appearance today and now that most has turned to slush, forecasters are worried that near-freezeing temperatures could make for a dangerous situation on the road. tucker barnes has more. >> reporter: could be a couple of icy spots out there late, particularly north and west and we got the snow during the day anywhere between a trace and maybe two inches, if you have to the west of the city. let's go to the maps then, again, the system new winding down. you can see the last of it. there you go. pushing up now north and east of new york city. and still some leftover snow in
be described as a stopgap proposal, one to avoid the full impact of the fiscal cliff. it will allow congress to again take another crack at finding some way to deal with spending cuts and tax reform. gerri: stay with us, rich edson. thank you so much for that report. turning now to our guests. it's up to harry reid and mitch mcconnell, the two leaders in the senate. trying to craft something. how likely is it that there would be a bill that passed the senate and house? after all, that is the problem we have had a long. >> well, first, we have not en any details of this package. we are talking completel off-the-cuff, but we know will not be at 250. i think carrie reed has problems from new york like dianne feinein of california, and 250 will be a big pill to swallow. this is a fiscal cliff that we can have 50 days, 60 days down the road. it does not fix the problem if you ill have these taxes on $250,000 and above. as rich edson said, this is going to be another deadline in congress has to have. i think everyone needs to get comfortable with the fact that we are going to have these kinds of s
on the fiscal cliff i'm joined by deputy political editor domminco. let's talk about what are the opings left on the table as we look at the narrow window that's left to get us to 2013 and what could get done. >> well, i think ultimately you've got a small deal, a big deal, or going over the cliff. there is some movement towards getting a small deal done. you hear that from congressman ellison. senate airdz on both sides tell me that that's possible. the 250,000 a year tax cut plus unemployment things and it maybe can kick the can down the road. that will have consequences for the president's agenda in the next year because he wants to get immigration reform done. he wants to get a lot of other things done that really get pushed down the road if fiscal stiff is still weighing on him. >> which side has negotiated in good faith more? the political reporting we've heard is that the president is still at the table. he is saying let's get something done. john boehner is at the table saying he wants to get something done, but -- i think the white house says how is he going to pass plan a or somethi
you. >>> the fiscal cliff and other issues seem to be dragging down holiday shopping. forecasters predicted a big jump but analysts say it could be the worst in four years. elaine quijano has more. >> good morning to you jeff and rebecca. according to early numbers shoppers were not in the holiday spending spirit and some of the reasons had nothing to do with the economy. holiday retail sales grew just 0.7% this year far short of expectations and down from 2% a year ago. >> whether it was hurricane sandy and the need to spend on the home whether it was the tragedy in connecticut and took away the feel-good factor it was a confluence of events that led to a should have been better holiday season. >> reporter: in the densely populated northeast, where more than a fifth of the country's retail sales take place, homeowners hit hard by hurricane sandy spent more money on repairs than on holiday gifts. also dragging down sales was uncertainty about the fiscal cliff, tax hikes and spending cuts set to take effect next year. if lawmakers don't reach a deal to avoid
. caller: thank you for taking my call. to me, the fiscal cliff is just a small smokescreen. the fiscal cliff that is coming is obamacare. nobody is addressing obamacare. i had to find out friday that we will be taxed 2.3% on any device used in any medical field we go to. my husband is a doctor. he wrote out a prescription for us for january, and he said, i do not know how much this will cost you a of pocket because of obamacare. he even said, my husband is over 70, he did not know how much water he would be able to help him because of obamacare. this is just a smokescreen. when people find out that not only will we be taxed on medical devices, but even our debt bills will be going up because of our animals -- this thing is a joke. you liberals out there, you'll be hit just as hard as the republicans. as the tea party warn you that this will happen. host: let's give the guys at the chance to comment on health care law and its place in this debate. guest: it is not part of the fiscal cliff. there is a tax increase because of health care reform act. it is not considered part of the fiscal
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